๐จ $PENGU : Still Holding Support After Drop โ Whatโs Next?๐ง๐ง๐ง
๐ What happened in the last 24h:
In the past 24 hours, $PENGU dropped from $0.0416 to $0.0377, losing nearly 8%. The 24h low was $0.0370, with trading volume staying strong at $3.7B.
The price remains under pressure and is moving within a short-term downtrend channel.
โ ๏ธ Why this matters:
$PENGU surged +240% in the last 90 days, and the current drop looks like a natural correction as traders take profits.
The price is testing a key support level โ if broken, it could signal a deeper retracement.
Seller dominance is at 71.8%, indicating bearish short-term sentiment.
๐ What the chart tells us:
$0.0370 has held twice now โ acting as a short-term support.
Both MA(5) and MA(10) are trending above the current price โ a bearish structure.
Sell volume is above average, but high trading activity suggests the market is still watching.
โ What to do now:
If $0.0370 holds, a rebound toward $0.039โ$0.0405 is likely.๐ค
If broken, expect further downside toward $0.035 and possibly $0.032.
Long-term fundamentals remain strong, but entering now carries higher risk.
Best move: watch for bounce confirmation before entering again.
